Results 151 to 160 of about 1,445 (218)

Is Capitalism Bad for Democracy? A Review of Lisa Herzog's The Democratic Marketplace

Philosophy &Public Affairs, EarlyView.
ABSTRACT In The Democratic Marketplace, Lisa Herzog offers a damning indictment of democratic capitalism. Among other things, she argues that capitalism has led to increased inequality, fosters an unhealthy culture of competition, that it is bad for the environment, and that it is ultimately bad for democracy itself.
Adam F. Gibbons
wiley   +1 more source

Bonds on the Ballot: What Voters (Don't) Know About Debt Financing and Why It Matters

Public Budgeting &Finance, EarlyView.
Abstract American subnational governments commonly require voters to approve bond proposals, reflecting historical concerns about legislative shortsightedness. Yet voters need an understanding of how bond financing works to make choices consistent with preferences. Existing literature makes it unclear whether voters have such knowledge.
Shanna Pearson‐Merkowitz, Joshua J. Dyck, Edward L. Lascher Jr., Corey Lang   +3 more
wiley   +1 more source

Other People's Money: Political Embeddedness on Pension Boards, Alternative Assets and Investment Fees

Public Budgeting &Finance, EarlyView.
Abstract State‐administered pension plans report paying roughly $20 billion each year in fees to external asset managers, much of it for high‐cost, high‐risk “alternative” assets such as private equity and hedge funds. These outcomes involve trillions in pension investments that affect the retirement security of millions of public sector workers and ...
Jeffrey C. Diebold, Cody R. Taylor
wiley   +1 more source

A Framework for Sales Tax Base Expansion: Food Taxation in North Carolina and Applications for Other States

Public Budgeting &Finance, EarlyView.
Abstract The review of sales tax exemptions represents a significant undertaking for states across the United States. This analysis introduces a set of tax policy criteria to evaluate these exemptions in response to prevalent stakeholder considerations. We implement these criteria in the context of North Carolina's exemption of unprepared food from the
Whitney Afonso, Alex Combs
wiley   +1 more source

From Opportunity to Constraint: Structural Inequities in Public Pension Fund Investing

Public Budgeting &Finance, EarlyView.
Abstract This study examines how structural features shape participation in private equity across U.S. state and local public pension systems. Using panel data from the Boston College Public Plans Database the analysis introduces the concept of structural asymmetries to explain persistent differences in access to illiquid investment strategies ...
Odd J. Stalebrink
wiley   +1 more source

Better VAT for Both Explicit and Implicit Financial Fees

Public Budgeting &Finance, EarlyView.
Abstract Recently, several countries have initiated reforms on their VAT regimes to include financial services, following the emergence of various methods for taxing both implicit and explicit fees. This article provides a theoretical and empirical analysis of these reforms.
Guillermo Peña
wiley   +1 more source

Lessons on State and Local Income Taxes From the Twenty‐First Century and Challenges for the Future

Public Budgeting &Finance, EarlyView.
Abstract I survey recent research on subnational income tax policy, arguing that a defining feature is geography. Geographic boundaries limit the power of subnational governments to tax people and activities. The article discusses where income should be taxed and the effects of these tax rules on the interjurisdictional mobility of people and jobs.
David R. Agrawal
wiley   +1 more source

Intergovernmental Grants, Fiscal Autonomy, and Local Budgeting: Evidence of Reference Dependence From Korea

Public Budgeting &Finance, EarlyView.
Abstract This study employs a panel threshold regression to examine how own‐source revenues and unconditional grants affect internal expenditures of Korean local governments. Guided by mental accounting theory, we argue that revenue sources create distinct “accounts,” shaping expenditure choices. Results reveal two thresholds (0.310% and 0.401%) beyond
Kyungmin Yoo, Sangheon Kim, Kwang Bin Bae   +2 more
wiley   +1 more source

An Analysis of Proactive State Monitoring of Local Government Debt Issuance

Public Budgeting &Finance, EarlyView.
Abstract Debt monitoring rules are a type of fiscal rule that allows states to proactively oversee their local government borrowing. This study examines how these rules impact local borrowing costs using a mixed‐methods approach. It reviews state codes to classify debt monitoring features and creates a rigor index to measure state involvement.
Justina Jose
wiley   +1 more source

Learning From 25 Years of Changes in Business Tax Policy

Public Budgeting &Finance, EarlyView.
Abstract This paper summarizes the significant changes to the taxation of business income in the United States over the last 25 years and how the resulting policy variation has helped inform research on business taxation. The survey of research on the topic covers investment incentives, international taxation, corporate financial policy, issues with ...
Jason DeBacker, Aerfate Haimiti
wiley   +1 more source